Vishay to pay put on LYONs in stock

New York, May 5 - Vishay Intertechnology Inc. said it will pay the upcoming put on its Liquid Yield Option Notes due June 4, 2021 in stock.

The LYONs are putable on June 4 at $602.77 per $1,000 principal amount at maturity. Vishay currently has $385 million principal amount at maturity of the convertibles outstanding.

For fixing the amount of stock to be issued, Vishay will use the average closing price of its shares for the five business days ending three business days before the put date, that is, May 25 through June 1.

Vishay is a Malvern, Pa., manufacturer of electronic components.

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